Long-term looking, buying is not an option at the moment. We would consider using rallies as selling opportunities. Decisive break above 0.78 handle would, however, be a buying signal.
AUD/USD Daily Forecast – 05 December
Aussie was traded in a tighter range in the course of the yesterday's session with support around 0.7580 area and resistance above 0.7610 level, in the end finishing session slightly below 0.76 handle. We can expect much more volatility tomorrow, with Australian Retail Sales and Current Account figures as well RBA interest rate decision. Pair is likely to find support around 0.7550 and 0.7520 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7650-0.7680 handle.
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